NLS Pharmaceutics And Kadimastem Enter Binding Term Sheet For Transaction Under Which Kadimastem will Become A Wholly Owned Subsidiary Of NLS; Kadimastem's Shareholders To Hold 85% Of Issued And Outstanding Shares Of Merged Company
Portfolio Pulse from Benzinga Newsdesk
NLS Pharmaceutics and Kadimastem have entered into a binding term sheet for a transaction where Kadimastem will become a wholly owned subsidiary of NLS. Kadimastem's shareholders will hold 85% of the issued and outstanding shares of the merged company.
July 29, 2024 | 11:08 am
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NLS Pharmaceutics is set to acquire Kadimastem, making it a wholly owned subsidiary. Kadimastem's shareholders will hold a significant majority (85%) of the merged company's shares.
The acquisition of Kadimastem by NLS Pharmaceutics is a significant move, with Kadimastem's shareholders gaining a substantial majority in the merged entity. This could lead to positive market sentiment and potential stock price increase for NLSP in the short term.
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